StockNews.com Begins Coverage on Vector Group (NYSE:VGR)

StockNews.com began coverage on shares of Vector Group (NYSE:VGR) in a report released on Monday morning. The brokerage issued a buy rating on the stock.

Separately, Barclays boosted their price target on shares of Vector Group from $15.00 to $16.00 and gave the stock an overweight rating in a research report on Wednesday, August 14th.

Vector Group Stock Performance

Shares of VGR stock opened at $14.91 on Monday. The company’s fifty day moving average price is $13.58 and its 200-day moving average price is $11.70. The stock has a market cap of $2.35 billion, a PE ratio of 12.85 and a beta of 1.04. Vector Group has a 12 month low of $9.27 and a 12 month high of $15.53.

Vector Group (NYSE:VGR) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. Vector Group had a negative return on equity of 26.96% and a net margin of 14.05%. The company had revenue of $371.91 million during the quarter, compared to the consensus estimate of $362.90 million. On average, sell-side analysts forecast that Vector Group will post 1.22 earnings per share for the current fiscal year.

Vector Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend was Friday, August 30th. Vector Group’s dividend payout ratio is presently 68.97%.

Hedge Funds Weigh In On Vector Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VGR. Federated Hermes Inc. lifted its stake in shares of Vector Group by 0.5% in the 2nd quarter. Federated Hermes Inc. now owns 183,913 shares of the company’s stock valued at $1,944,000 after purchasing an additional 935 shares during the last quarter. Rhumbline Advisers lifted its position in Vector Group by 0.3% in the second quarter. Rhumbline Advisers now owns 357,738 shares of the company’s stock valued at $3,781,000 after buying an additional 1,020 shares during the last quarter. Arizona State Retirement System boosted its stake in Vector Group by 3.0% during the second quarter. Arizona State Retirement System now owns 39,729 shares of the company’s stock worth $420,000 after buying an additional 1,160 shares during the period. QRG Capital Management Inc. increased its position in shares of Vector Group by 8.3% during the second quarter. QRG Capital Management Inc. now owns 16,157 shares of the company’s stock valued at $171,000 after acquiring an additional 1,238 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in shares of Vector Group by 3.1% in the 2nd quarter. Natixis Advisors LLC now owns 44,984 shares of the company’s stock valued at $475,000 after acquiring an additional 1,346 shares during the period. Institutional investors and hedge funds own 64.09% of the company’s stock.

Vector Group Company Profile

Vector Group Ltd., through its subsidiaries, engages in the manufacture and sale of cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes under the Montego, EAGLE 20’s, Pyramid, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.